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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill by reportable segment were as follows:

In millions

 

 

North America

 

 

International

 

 

Total

 

Balance as of December 31, 2019

$

2,631.6

 

 

$

350.6

 

 

$

2,982.2

 

Divestitures (Note 3)

 

(182.8

)

 

 

-

 

 

 

(182.8

)

Changes due to foreign currency fluctuations

 

-

 

 

 

(13.7

)

 

 

(13.7

)

Balance as of June 30, 2020

$

2,448.8

 

 

$

336.9

 

 

$

2,785.7

 

Intangible Assets

Intangible assets were as follows:

In millions

 

 

June 30, 2020

 

 

December 31, 2019

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Value

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Value

 

Amortizable intangibles:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

$

1,326.0

 

 

$

572.7

 

 

$

753.3

 

 

$

1,460.8

 

 

$

575.8

 

 

$

885.0

 

Covenants not-to-compete

 

3.5

 

 

 

2.8

 

 

 

0.7

 

 

 

4.9

 

 

 

3.8

 

 

 

1.1

 

Tradenames

 

3.5

 

 

 

1.1

 

 

 

2.4

 

 

 

4.1

 

 

 

1.6

 

 

 

2.5

 

Operating permits

 

5.9

 

 

 

4.4

 

 

 

1.5

 

 

 

3.6

 

 

 

1.1

 

 

 

2.5

 

Other

 

8.7

 

 

 

3.0

 

 

 

5.7

 

 

 

8.6

 

 

 

2.6

 

 

 

6.0

 

Indefinite lived intangibles:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating permits

 

86.8

 

 

 

-

 

 

 

86.8

 

 

 

211.1

 

 

 

-

 

 

 

211.1

 

Tradenames

 

310.3

 

 

 

-

 

 

 

310.3

 

 

 

314.2

 

 

 

-

 

 

 

314.2

 

Total

$

1,744.7

 

 

$

584.0

 

 

$

1,160.7

 

 

$

2,007.3

 

 

$

584.9

 

 

$

1,422.4

 

Changes in Carrying Amount of Intangible Assets

Changes in the carrying amount of intangible assets were as follows:

In millions

 

 

Total

 

Balance as of December 31, 2019

$

1,422.4

 

Impairments during the period (Note 3)

 

(5.4

)

Divestitures (Note 3)

 

(180.0

)

Amortization during the period

 

(63.1

)

Changes due to foreign currency fluctuations

 

(13.2

)

Balance as of June 30, 2020

$

1,160.7

 

 

Estimated Amortization Expense

The estimated amortization expense for each of the next five years (based upon exchange rates at June 30, 2020) is as follows for the years ending December 31:

 

In millions

 

2020 (remainder)

$

60.7

 

2021

 

114.4

 

2022

 

113.1

 

2023

 

112.3

 

2024

 

110.9